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Export Volume of Encapsulation Film in October Down 9% MoM, with Stronger Demand in the Polish and US Markets [SMM Analysis]
Dec 29, 2024, at 11:28 pm
According to customs data, film exports in November reached 3,890.67 mt, up 34.19% MoM but down 24.5% YoY. In November, Indonesia became the largest export market, accounting for 21.17% of the export volume. Indonesia's manufacturing capacity has significantly increased, with an annual potential to add 200,000 mt of polysilicon, 11 GW of silicon wafers, 17 GW of solar cells, and 19 GW of module capacity...
According to customs data, the export volume of encapsulation films in October was 3,890.66 mt, up 34.19% MoM but down 24.5% YoY.
In terms of export volume by country/region in November, the top export destinations were Indonesia (21.17%), Poland (17.97%), Russia (9.09%), South Korea (8.27%), Laos (7.69%), the UAE (5.95%), Turkey (3.43%), and the US (2.63%).
In November, Indonesia became the largest export market, accounting for 21.17% of the export volume. With significant foreign investment inflows and strategic initiatives, Indonesia's manufacturing capacity has seen remarkable growth, with an annual capacity expected to increase by 200,000 mt of polysilicon, 11 GW of wafers, 17 GW of solar cells, and 19 GW of modules. Under the rapid expansion of the global PV market, Indonesia is forecast to become the world's fourth-largest economy by 2050, attracting investments from international companies such as Thornova Solar and Gstar, which have established large-scale production facilities.
Indonesia has abundant solar energy resources, yet its current PV installed capacity is only 717.71 MW, far from meeting global climate targets. Despite large-scale projects like the Cirata floating PV project and 17 GW of PV projects under development, Indonesia's power generation potential remains underutilized.
The government has planned to phase out coal-fired power and achieve 75 GW of renewable energy installed capacity by 2040, with PV as the core pillar. However, to take a leading role in the global energy transition, Indonesia still needs to accelerate the deployment and implementation of PV power generation, thereby transforming from a major PV manufacturer into a global energy powerhouse.